Tax Review Issues Deserve To Be Debated

The Institute of
Chartered Accountants says it is disappointed that the Tax
Review 2001 report appears to have been dismissed without
the opportunity for serious consideration and debate.

“The Institute believes that it is in the national
interest to engage in constructive and open debate about the
issues raised by the McLeod Tax Review,” the Institute’s
President, Owen Williams, said today.

“Tax policy is too
important to the national well-being to be handled
lightly.”

Mr Williams said the review team’s task was to
take a fresh look the country’s taxation system and come up
with some alternatives.

“That’s exactly what they have
done. A natural part of that process is to challenge
existing approaches.

“It should be remembered that the
issues paper is not trying to present a final word. It
refers to letting evidence speak for itself, testing
inherited conventions, and vigorously testing the report
against further submissions before presenting final
recommendations.”

Mr Williams said the Institute
understood the public’s concern about some of the ideas
raised in the report, but good policy could only be achieved
through constructive debate.

“The report should not be
discarded because some of the findings are controversial or
one is deemed to electorally unappealing. All aspects should
be fully debated before final decisions are reached.

“The Institute hopes that in coming days genuine debate
will be possible, and that it is reported in a balanced and
complete manner for the benefit of the nation.”

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